Considered by many economists to be the finest analysis of
capitalism ever written, "Can Capitalism Survive?" introduces
Joseph A. Schumpeter's theory of "creative destruction," stating
that in capitalist economies new innovations erode the position of
established firms while also providing new and previously
unforeseen avenues of economic growth. Today the effects of such
advancements as Mp3s--replacing CDs, which in turn had replaced
cassettes and vinyl records--have proven his ideas correct.
Prophetically arguing that capitalist societies are also subject to
"perennial gales" of destruction that wipe away fortunes, this
great economist revealed the vast, often chaotic economic landscape
of world capitalism. First published in Schumpeter's classic
"Capitalism, Socialism and Democracy, " here is an invaluable guide
the global economy.
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